Mexican Company Looking to Buy South American Mill

Mexican paper giant Copamex Industrias SA renewed its bid to acquire majority control of Venepal SA, Venezuela’s unprofitable paper company, reopening negotiations with the Venezuelan company’s banks, which own 58 percent of the company, El Nacional reported. At least two of the banks, which rejected Copamex’s initial offer, are now predisposed to accept it, or to renew talks, bankers said. Copamex has until the end of the month to come to an agreement, and then Venepal can solicit other offers.